Secured Demand Loan / Overdraft Against Local Deposit
| Islamic Finance | No |
| Minimum Salary | AED N/A |
| Minimum Age | N/A years |
| Maximum Age | N/A years |
| UAE Nationals Eligible | Yes |
| Expatriates Eligible | Yes |
| Salaried Eligible | Yes |
| Self-Employed Eligible | Yes |
| Salary Transfer Required | No |
| Employment Criteria | Individual/s, sole proprietors, partnerships, LLCs, FZCs. |
| Minimum Loan Amount | AED 200,000.00 |
| Maximum Loan Amount | AED N/A |
| Minimum Loan Tenure | 12 months |
| Maximum Loan Tenure | 35 months |
| Flat Interest Rate: | N/A |
| Reducing Interest Rate: | 5.00% - Starting from 5.00% APR, subject to deposit tenure. |
| Processing Fee: | 0.00% - No processing fee. |
| Early Settlement Fee: | N/A |
| Late Payment Fee: | 2.00% - 2% penal interest for delayed payment. |
| Insurance Fee: | N/A |
Required Documents
Deposit confirmation, Emirates ID, business license (if applicable).
Additional Benefits
Overdraft facility up to deposit tenure.
Features:
Secured against local deposits, flexible overdraft limits.
General Notes
Loan cannot exceed deposit tenure.
